8 Ways to Maximize Insurance CIO Success

Insurance CIOs will need to embrace agile development, focus on execution and utilize a number of other management strategies in order to find continued success, according to Novarica's Matthew Josefowicz.

1. Focus on the Business. Keep your focus on business-enabled IT capabilities rather than on the underlying technology/delivery of those capabilities. Use the best tool for the job.

Matthew Josefowicz, Novarica

2. Execution is Fundamental. Strong project management is essential for building the business organization’s faith in IT. Don’t neglect proactive communication on project status and anticipated problems.
3. Embrace Agile Development. Insurance CIOs should embrace the Agile development methodology not because it’s cool, but because it leads to closer business/IT collaboration.

4. Reverse Engineer Analytics Initiatives From Business Goals. Start with an anticipated business outcome and work backward. What will change if there is better data?

5. Distinguish Partners From Suppliers. Be sure you know which vendors are suppliers and which are partners, and treat them accordingly.

6. Understand the True Costs of Outsourcing. Understand whether you are outsourcing for cost or for capabilities. Make sure you understand the whole picture, and that you have implemented adequate measures to ensure acceptable quality.

7. Tap Virtualization and Private Cloud Synergies. Think about how to leverage your virtualization investments in a private cloud environment.

8. Invest in Your People. Make sure that they have an understanding of the impact they have on the business and reward their contributions.